Piper Sandler raised the firm’s price target on Adaptive Biotechnologies (ADPT) to $15 from $13 and keeps an Overweight rating on the shares. The firm notes Adaptive Biotechnologies achieved significant volume acceleration in its MRD business, and Piper believes a go-forward 30% revenue growth rate is achievable for multiple quarters, particularly as key drivers like EMR integrations gain further traction. This, coupled with continued ASP expansion, positions the company to drive revenue growth in the top quartile of Piper’s coverage group.
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